KARACHI, Nov 21 (Reuters) - Pakistani stocks closed higher
on Wednesday, driven by interest in the oil, cement and power
The Karachi Stock Exchange (KSE) benchmark 100-share
index ended 0.03 percent, or 5.18 points, higher at 16,256.97
"Renewed institutional support in the oil, cement and power
sector stocks on strong valuations played a catalyst role in the
positive close," said Ahsan Mehanti at Arif Habib Corp.
Karachi Electric surged 8.85 percent, or 0.5
rupees, to 6.15 per share, while Jahangir Sidiqui rose
1.89 percent, or 0.3 rupees, to 16.17 per share.
Fauji Cement fell 1.03 percent, or 0.07 rupees, to
6.70 per share and JS Bank dropped 3.87 percent, or
0.23 rupees, to 5.71 per share.
In the currency market, the Pakistani rupee was
steady at 95.90/95.97 to the dollar, compared to Tuesday's
Overnight rates in the money market ended at 10 percent
compared to Tuesday's close of 9.90 percent.
(Compiled by the Karachi newsroom)